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Councilmember introduced the following resolution and moved for its adoption: <br />RESOLUTION #23-193 <br />RESOLUTION APPROVING PURCHASE AGREEMENT AND RIGHT OF RE-ENTRY <br />AGREEMENT FOR PART OF OUTLOT A, COR TWO; NORHART ARCHITECTURE <br />LLC <br />WHEREAS, the City of Ramsey, herein referred to as the "City," owns various parcels <br />throughout the City of Ramsey; and <br />WHEREAS, the City negotiated the terms of Purchase Agreement for the sale of the parcel <br />legally described on Exhibit A ("the Property"), with Norhart Architecture LLC, a Minnesota <br />Limited Liability Company (the "Buyer"); and <br />WHEREAS, the City and Buyer have negotiated a Purchase Price of $435,600 ($2.50 per <br />square foot) on +/- 4 acres (174,240 square feet) subject to Final Plat for the Property referenced <br />in the Purchase Agreement; and <br />WHEREAS, the City herby declares the Property to be surplus City -owned land and is no <br />longer needed for current or future City functions, and authorizes the property to be sold; and <br />WHEREAS, the formal Purchase Agreement requires a Right -of -Re -Entry Agreement be <br />recorded at the closing of this land transaction; and <br />WHEREAS, the Ramsey EDA recommends the sale and development of the Property to <br />Norhart Architecture LLC, a Minnesota Limit Liability Company; and <br />WHEREAS, Norhart Architecture LLC is Active and in Good Standing with the Secretary <br />of State of Minnesota as of August 14, 2023. <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY OF RAMSEY, ANOKA <br />COUNTY, STATE OF MINNESOTA, as follows: <br />1) That the City hereby declares the Property to be surplus City -owned land, and authorizes <br />the property to be sold. <br />2) That the City hereby authorizes the sale of the Property to Norhart Architecture LLC, a <br />Minnesota Limited Liability Company for $435,600 ($2.50 per square foot) on +/- 4 acres <br />(174,240 square feet) subject to Final Plat for the Property for the development of a 200 <br />unit market -rate apartment. <br />3 <br />) <br />That the City authorizes execution of the Purchase Agreement and Right -of -Re -Entry <br />Agreement to be recorded at the closing of this land transaction. <br />